How does everyone feel about the possibility of IRS automatically issuing refunds to those affected by the unemployment deductions.
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For already filed returns, very positive, but the state returns might also need amending so I'm not sure it saves time.
I think they'll be able to, but how long will it take....
I love the idea, but I am wondering if the states will do the same after IRS does. I sure do not look forward to amending them. I think the government is trying to drive us to drink. 😫
scares me.....but, it is what it is. Thankfully I held most of my UI returns so, I dont have to worry too much about IRS correcting.
I am waiting to see how they deal with MFJ returns with community income and unemployment more than $10,200 -- and how they figure out if the taxpayers lived in a community-property state, anyway.
I think what's more likely is that IRS will send the taxpayer a "reverse CP 2000" -- proposing to give them the exclusion but asking them to sign off on it. Clients will call us, we'll do all the work for free because, of course, it's our fault they got the notice.
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